“Secrecy was paramount” in getting Carney to BoE: FT

Chris Giles of the Financial Times has written a richly detailed account of the behind-the-scenes campaign to woo Mark Carney into the driver’s seat at the Bank of England.

Read: Will Carney live up to his reputation?

“Top government officials reckoned the BoE needed shaking up after the financial crisis, so hiring an outsider was the only option. But so delicate was the operation that secrecy was paramount, and when the FT got wind of just some of the manoeuvres, denials flooded in,” Giles writes.

Rewinding the tape to Carney’s obscure origins in the frigid Northwest Territories, Giles provides a blow-by-blow account of Carney’s rise, from his time at Harvard — where he “worked like a bastard”– to becoming the greatest hope for resurrecting London’s stature as an economic powerhouse.

Read it here.

Also read:

Carney farewell parties cost taxpayers $30,000

It’s time to be more accountable: Carney

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.